Andrea's Angels Company Accounts Receivable Inventory Fixed Assets Accum Deprec $800,000 180,000 Accounts Payable 300,000 Note...

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Andrea's Angels Company Accounts Receivable Inventory Fixed Assets Accum Deprec $800,000 180,000 Accounts Payable 300,000 Note Payable 350,000 $900,000 Owner's Equity 400,000 (200,000) 700,000 Mackenzie's Miracle Co. will buy Andrea's Angels for $2,500,000. They estimate that the Accounts Receivable are worth about $706,000, the Inventory is worth $190,000 and the Fixed Assets are worth $700,000. Everything else is worth its book value. Prepare the journal entry for the purchase on Mackenzie's Miracle Co. books. Andrea's Angels Company Accounts Receivable Inventory Fixed Assets Accum Deprec $800,000 180,000 Accounts Payable 300,000 Note Payable 350,000 $900,000 Owner's Equity 400,000 (200,000) 700,000 Mackenzie's Miracle Co. will buy Andrea's Angels for $2,500,000. They estimate that the Accounts Receivable are worth about $706,000, the Inventory is worth $190,000 and the Fixed Assets are worth $700,000. Everything else is worth its book value. Prepare the journal entry for the purchase on Mackenzie's Miracle Co. books.